Electricity to rise between 1.5% and a maximum of 3% in the new year, not the 11% reported

Electricity to rise between 1.5% and a maximum of 3% in the new year, not the 11% reported

Update 9.30pm: The rise in electricity prices has now been confirmed as 2.3%, but the rise is only confirmed for the first quarter of 2014, after which it will be assessed in accordance with guidelines set by the Comisión Nacional de los Mercados y la Competencia (National Commission on Markets and Competition) which is already working with the Department of Industry.

Original post 27 December: There was a huge fanfare a week or so ago about huge electricity price rises in the new year, with the press creating outrage by saying that hikes of 11% were going to be imposed on impoverished consumers. It is true that the power companies were planning this rise, but it was never going to be accepted by the Government. And, indeed, the arrangement has been declared null and void, and a rise of between 1.5% and a maximum of 3% has instead been confirmed. The increase will be approved in today’s cabinet meeting, when the freezing of 2014’s minimum wage will also be passed.

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